2025:KER:27078 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 28TH DAY OF MARCH 2025 / 7TH CHAITHRA, 1947 WP(C) NO. 8060 OF 2025 PETITIONER: PRASANNA KUMARY, AGED 49 YEARS W/O. SIVANKUTTIPILLA, LEKSHMI NIVAS, KOTTAKKAKOM, PANMANA P.O., KOLLAM DISTRICT, PIN - 691583 BY ADVS. ARUN MATHEW VADAKKAN STEFFY V.J. LEEJI A.S. ANCY JOY AROKIA JAMES ANIL B. KUMAR RESPONDENTS: 1 KERALA STATE CO-OPERATIVE BANK LTD. (KERALA BANK), REPRESENTED BY ITS AUTHORISED OFFICER, REGIONAL OFFICE, THIRUVANANTHAPURAM, EAST FORT, FORT P.O., THIRUVANANTHAPURAM DISTRICT, PIN - 695023 2 THE AREA MANAGER, THE KERALA STATE CO-OPERATIVE BANK LTD. (KERALA BANK), KARUNAGAPPALLY P.O., KOLLAM DISTRICT, PIN - 690518 3 KOLLAM DISTRICT CO-OPERATIVE BANK LTD., REPRESENTED BY ITS BRANCH MANAGER/AUTHORIZED OFFICER, CHAVARA BRANCH, CHAVARA P.O., KOLLAM DISTRICT, PIN - 691583 2025:KER:27078 2 WP(C) NO. 8060 OF 2025 OTHER PRESENT: SRI. P.C.SASIDHARAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:27078 3 WP(C) NO. 8060 OF 2025 JUDGMENT The petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the respondent bank for recovery of the amounts due from the petitioner. 2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account. 3. It was submitted on behalf of the respondent bank that the petitioner committed default in repayment of a loan and the total overdue amount as on 03.03.2025 is Rs.3,55,254/-. It was further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept repayment of the overdue amount in limited instalments and regularise the loan account. 4. Having regard to the circumstances of the case and the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the total overdue on condition that Rs.50,000/- (Rupees fifty thousand only) shall be paid on or before 10.04.2025 and the balance amount shall be paid in ten 2025:KER:27078 4 WP(C) NO. 8060 OF 2025 equal monthly instalments, the first of which shall be paid on or before 09.05.2025 and the subsequent instalments shall be paid on the 10th day of every succeeding months and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.3,55,254/- along with any accrued interest, costs and charges from the petitioner and regularise the loan account of the petitioner in the following manner: i. The petitioner shall pay a sum of Rs.50,000/- (Rupees fifty thousand only) on or before 10.04.2025; the balance overdue amount along with any accrued interest, costs and charges shall be repaid in ten equal monthly instalments; ii. The first instalment shall be paid on or before 09.05.2025 and the subsequent instalments shall be paid on or before the 10th day of every succeeding months; iii. Petitioner shall continue to pay the regular EMI’s/instalments along with the instalments directed above; iv. In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law; 2025:KER:27078 5 WP(C) NO. 8060 OF 2025 v. In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE STB 2025:KER:27078 6 WP(C) NO. 8060 OF 2025 APPENDIX OF WP(C) 8060/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE DATED 21.12.2022 ISSUED BY 1ST RESPONDENT